Sociedad Quimica y Minera S.A. (NYSE:SQM) Sees Large Drop in Short Interest

Sociedad Quimica y Minera S.A. (NYSE:SQM) saw a significant drop in short interest in the month of January. As of January 30th, there was short interest totaling 1,392,213 shares, a drop of 13.2% from the January 15th total of 1,604,369 shares. Based on an average daily volume of 1,619,734 shares, the days-to-cover ratio is presently 0.9 days. Based on an average daily volume of 1,619,734 shares, the days-to-cover ratio is presently 0.9 days.

Institutional Trading of Sociedad Quimica y Minera

A number of hedge funds have recently bought and sold shares of SQM. Manning & Napier Advisors LLC increased its stake in Sociedad Quimica y Minera by 6.3% during the third quarter. Manning & Napier Advisors LLC now owns 3,168,322 shares of the basic materials company’s stock valued at $140,040,000 after acquiring an additional 187,767 shares during the period. Earnest Partners LLC increased its holdings in Sociedad Quimica y Minera by 10.2% in the 4th quarter. Earnest Partners LLC now owns 2,106,810 shares of the basic materials company’s stock valued at $144,949,000 after buying an additional 195,142 shares during the period. Van ECK Associates Corp lifted its holdings in shares of Sociedad Quimica y Minera by 24.7% during the 4th quarter. Van ECK Associates Corp now owns 2,089,638 shares of the basic materials company’s stock worth $143,767,000 after acquiring an additional 413,246 shares during the period. Kopernik Global Investors LLC increased its stake in Sociedad Quimica y Minera by 20.9% in the second quarter. Kopernik Global Investors LLC now owns 1,842,113 shares of the basic materials company’s stock valued at $64,971,000 after acquiring an additional 318,445 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Sociedad Quimica y Minera by 4.7% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,529,281 shares of the basic materials company’s stock worth $65,729,000 after purchasing an additional 69,177 shares in the last quarter. 12.41% of the stock is owned by institutional investors.

Sociedad Quimica y Minera Stock Performance

SQM traded up $0.66 on Tuesday, hitting $71.57. The company had a trading volume of 196,973 shares, compared to its average volume of 1,627,977. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.82 and a quick ratio of 1.88. The company’s fifty day moving average price is $73.52 and its 200 day moving average price is $56.73. The stock has a market cap of $20.44 billion, a price-to-earnings ratio of 38.90 and a beta of 0.99. Sociedad Quimica y Minera has a 1-year low of $29.36 and a 1-year high of $86.13.

Sociedad Quimica y Minera (NYSE:SQM) last announced its earnings results on Tuesday, November 18th. The basic materials company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.06). The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.14 billion. Sociedad Quimica y Minera had a net margin of 12.12% and a return on equity of 9.79%. Sociedad Quimica y Minera’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.46 EPS. Equities analysts predict that Sociedad Quimica y Minera will post -1.31 earnings per share for the current fiscal year.

Sociedad Quimica y Minera Dividend Announcement

The business also recently disclosed a special dividend, which was paid on Monday, January 5th. Stockholders of record on Tuesday, December 30th were paid a $0.1236 dividend. The ex-dividend date was Tuesday, December 30th. Sociedad Quimica y Minera’s dividend payout ratio (DPR) is presently 6.56%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Rothschild & Co Redburn started coverage on Sociedad Quimica y Minera in a research report on Friday, October 24th. They set a “neutral” rating and a $54.00 price target for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Sociedad Quimica y Minera in a report on Monday, December 29th. Clarkson Capital reissued a “neutral” rating and set a $90.00 target price on shares of Sociedad Quimica y Minera in a research note on Thursday, January 22nd. Zacks Research upgraded shares of Sociedad Quimica y Minera from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 20th. Finally, Scotiabank increased their price objective on shares of Sociedad Quimica y Minera from $80.00 to $90.00 and gave the company a “sector outperform” rating in a report on Monday, January 12th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.79.

About Sociedad Quimica y Minera

Sociedad Química y Minera de Chile SA (NYSE: SQM) is a leading global producer of specialty chemicals and minerals headquartered in Santiago, Chile. The company focuses on the extraction and processing of key inputs for the agricultural, industrial and high‐tech sectors. Its core business activities include the mining of lithium, potassium and iodine, as well as the manufacture of value‐added products derived from these raw materials.

SQM’s product portfolio spans lithium carbonate and lithium hydroxide used in electric vehicle batteries and energy storage systems; potassium chloride and potassium nitrate fertilizers designed for precision agriculture; and iodine and its derivatives for pharmaceutical, food and electronics applications.